The cost of living is more today than it was last year, or even last month. It is on rise and it tends to rise faster than salaries. Many people can manage to get by with a combination of careful thrift and a little luck. But no one saves for an emergency (it's hard enough to save for retirement) so when disaster suddenly strikes, and money is needed to solve a problem quickly, payday loans are a useful financial tool.

Emergencies strike anywhere, at any time, and could be anything from a plumbing disaster, to a new wardrobe needed for a job interview, to a visit to the dentist for emergency surgery. Whatever the situation, cash may not be readily available and payday loans are one of the fastest, easiest solutions!

Payday loans are simple, short-term loans that are borrowed (sometimes instantly) and paid back on your next payday. As a financial tool, they are a useful way to bridge a financial emergency when the cash you have is not enough to cover the situation. The money goes into your account straight away, the emergency is dealt with, and the payday loan is paid back on your next pay day. Simple and convenient – the emergency is behind you. And all you need to qualify for payday loans is a job. Payday loans are so convenient that some consumers prefer the simplicity of payday loans to the high fees of credit cards!

Consider this example of a typical situation where Payday loans helped out in a financial emergency:

Paul loaded the tradeshow boxes into his dented, rusty car and headed out. As a new employee, fresh out of school, Paul had offered to take on the company's tradeshow responsibilities himself so he could impress the manager. Unfortunately, Paul's car didn't share his aspirations and not far down the road, the car coughed and died. Then the diagnosis came back: A part was needed. It was small; it was in-stock; it was a quick repair; but it was expensive. Paul could have turned around and driven back to the office, but that would have been failure! Instead, Paul called a payday loans office and the money was quickly deposited into his bank account. He paid for the repair and was back on the road and at the tradeshow in time for the opening. Crisis averted and Problem solved!

Emergency situations aren't the only place where payday loans are useful. Payday loans are also useful just to cover bills until payday – bridge financing as it is sometimes called by financiers. These loans are a great source of cash for those occasional extravagant nights out on the town, or even a last minute weekend away!

No one saves for emergencies. Thank goodness that there are payday loans to help cover those unexpected situations when the money in the bank just is not quite enough.

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